ICICI Securities Q2 profit surges 41% to Rs 424 crore

New Delhi: ICICI Securities, a part of the ICICI Group, on Monday reported a 41 per cent year-on-year growth in profit after tax to Rs 424 crore in three months ended September.

In comparison, the company had posted a PAT (profit after tax) of Rs 300.4 crore in the year-ago period, the brokerage house said in a filing to stock exchanges.

Total income surged 44 per cent year-on-year to Rs 1,249 crore in the quarter under review, from Rs 865.63 crore in the second quarter ended September 2022, led by growth in broking income with cash and derivative segment gaining momentum along with growth in investment banking segment.

"This quarter again we were able to demonstrate the benefits of pivoting to a customer centric coverage model. We continue to grow with our focus on acquisition of quality clients, gaining market share in revenue generating parameters across segments, growing our distribution business with a sharp focus on loans and mutual funds," Vijay Chandok, Managing Director and CEO of ICICI Securities, said.

During the quarter, ICICI Securities added 2.24 lakh clients, expanding its customer base to 95 lakh.